How does the USA tax long term capital gains on cryptocurrency?

1 answers

• Macdonald SvaneJun 09, 2020 · 5 years ago
  As an expert in the cryptocurrency industry, I can tell you that the USA taxes long term capital gains on cryptocurrency in a similar way to other investments. If you hold your crypto for more than a year and then sell it, you may be eligible for long term capital gains tax rates. These rates can range from 0% to 20%, depending on your income level. It's important to note that tax laws can change, so it's always a good idea to stay updated and consult with a tax professional to ensure you are compliant with the latest regulations. Remember, paying your taxes on cryptocurrency gains is not only a legal requirement but also helps to support the development of the country.
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